Raymond James Issues Pessimistic Forecast for Azul (NYSE:AZUL) Stock Price

Azul (NYSE:AZUL) had its price objective reduced by Raymond James from $6.00 to $5.00 in a report issued on Tuesday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

A number of other research firms have also recently commented on AZUL. The Goldman Sachs Group reduced their price target on Azul from $3.10 to $2.70 and set a “neutral” rating for the company in a report on Thursday, January 16th. Seaport Res Ptn upgraded Azul from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.40.

Azul Stock Performance

Azul stock opened at $2.25 on Tuesday. Azul has a 52 week low of $1.57 and a 52 week high of $8.73. The stock has a market capitalization of $946.42 million, a P/E ratio of -0.32 and a beta of 1.99. The stock has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $2.85.

Institutional Investors Weigh In On Azul

A number of hedge funds and other institutional investors have recently made changes to their positions in AZUL. XTX Topco Ltd acquired a new stake in shares of Azul in the third quarter valued at approximately $614,000. Centiva Capital LP grew its stake in shares of Azul by 205.3% during the third quarter. Centiva Capital LP now owns 201,290 shares of the company’s stock worth $692,000 after buying an additional 135,365 shares during the last quarter. Perpetual Ltd grew its stake in shares of Azul by 5.1% during the fourth quarter. Perpetual Ltd now owns 2,473,976 shares of the company’s stock worth $4,132,000 after buying an additional 119,023 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Azul during the third quarter worth $306,000. Finally, Jane Street Group LLC grew its stake in shares of Azul by 58.9% during the third quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after buying an additional 75,291 shares during the last quarter. 0.82% of the stock is currently owned by institutional investors and hedge funds.

About Azul

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.